Crypto

N

northernrower

Well-known member
For any of you FMTTMers that are involved with crypto right now I hope you got out at the right time. I decided to HODL for a bit, but finally took the decision to sell. It's looking nasty.
 
I've had a small amount in some coins since 2017 and have seen them go mad and collapse a couple of times now.

Personally I'll not be touching mine but it's easy to be more relaxed when you've only got in an amount you're comfortable losing.

I've seen some quite distressing posts online about how big some people are leveraged and there's a number of suicidal posts on reddit. A very scary thought for some and regardless of what you might think about their reasoning for doing so, I wouldn't wish that kind of stress on anybody
 
Japsi said:
Pyramid scheme collapsing?
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There is a really interesting podcast by this American life ( the reluctant traveller) where they follow a story about how NFT’s and certain crypto currency’s are manipulated to raise the value of each . It is an eye opener for how some speculators manipulate markets.
 
Got a small amount in alt coins that’s there for the long haul. Know a fair few people in for a lot though.
 
GazC_MFC said:
I have a small holding in safemoon, you see people who are involved high that are totally blinded by faith
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You've seen Coffeezilla's video on Safemooon haven't you? Unfortunately that small holding you have is worth nothing now if his video is correct. I had a small amount as well - I have written it off.
 
B17er said:
You've seen Coffeezilla's video on Safemooon haven't you? Unfortunately that small holding you have is worth nothing now if his video is correct. I had a small amount as well - I have written it off.
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Oh ye I’ve written it off, the response to that video by some people within that community is why I made the blinded by faith comment.

I was talked into it by a mate too. Always been anti crypto but told me this was about products being launched. Fool me once 😄
 
This is how Bitcoin has performed over the last 5 years. It's currently back to the price it was in January 2021.

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The entire stock market is having a bit of a nightmare (inflation, rate increases, Ukraine, energy etc) and Crypto will largely eclipse this, hence why it's down about 60% since November, compared to the S&P 500 being down 20%.

Bitcoin is now at December 20 levels, and the S&P 500 is up about 6% since then, so there's a much better gain on the latter, for far, far, far less risk.

Seems to me Crypto is the most risk, so it is often the most "disposable" of income which is used to "invest", so it's often the first to be dropped when times get hard(er). It will probably go back up, but could have a long way to go down first. Most will have been burned by this, and will have sold for a loss, so can't see there being as much interest in the future. Then there's the "mining", wasting massive amounts of energy, most of it being done in countries with very poor emissions records.

The biggest problem with Crypto though, will always be that it can go to 0, and bitcoin has a fair chance of doing that (if it doesn't it's likely the rest will), where as most major companies likely won't and major indexes highly unlikely won't.

I'll just stick with Vanguard, and invest in the world and USA, if that doesn't work long term then it won't matter anyway, as there will be much bigger problems afoot.
 
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